Will Reza Pahlavi lead Iran in 2026?

Reza Pahlavi's prospects for leading Iran in 2026 remain remote following the February 2026 killing of Supreme Leader Ali Khamenei and the Assembly of Experts' subsequent selection of Mojtaba Khamenei as successor in early March. Iran's constitutional process transferred authority first to a three-member interim council and then to the new supreme leader, preserving regime continuity amid ongoing …

This market will resolve to “Yes” if Reza Pahlavi de facto holds and exercises the powers of the head of state of Iran by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to “No.” Reza Pahlavi will be considered to hold power if he exercises primary governing authority over the Iranian state during the specified timeframe, including effective control over the armed forces, national institutions, and core executive decision-making, regardless of formal title, constitutional designation, or international recognition. Formal appointment, recognition by the United Nations, or …